Acct 450 aicpa - Study guides, Class notes & Summaries

ACCT 450 - AICPA Questions and Answers...

Chapter 03 1. Which of the following is/are not true about a proper journal entry? a. An explanation is needed immediately after each debit and immediately after each credit. b. All credits are indented. c. A debit is never indented, even if a liability or owner's equity account is involved. d. All debits are listed before the first credit. e. In a compound entry, the largest amounts are listed first. ANSWER: POINTS: DIFFICULTY: LEARNING OBJECTIVES: NATIONAL STANDARDS: STATE STANDARD...

ACCT 101B FINAL REVIEW – KEY ACCT 101B FINAL REVIEW – KEY   ACCT 101B FINAL REVIEW – KEY CH. 17 An example of a cost which would not be assigned to an overhead cost pool is b. freight-out. A variable cost is a cost that c. varies in total in proportion to changes in the level of activity. A cost which remains constant per unit at various levels of activity is a a. variable cost. A company has total fixed costs of $160,000 and a contribution margin ratio of 20%. The...